From the course: Developing Adaptability as a Manager
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Mastering contingency planning
From the course: Developing Adaptability as a Manager
Mastering contingency planning
- Things don't always turn out the way we expect. Your new hire can't hack the new job and has to be terminated. Your competitor just launched a new product that's way more advanced than yours. Or maybe things have been great and demand for your services are up 40% this year. Whatever it is, it's not exactly what you thought ti would be. And whether the problem is good or bad, you have to adapt quickly. In the moment, it can be hard to have the necessary perspective to figure out the right move. That's why it's so important to master contingency planning in your business. Whenever there's an inflection point or choice you have to make, hire this person, not that person, or deciding whether to open a new field office, it's useful to plan out alternative backup scenarios so you're ready in case the landscape changes. Here's how to do it. First, write down what your expected outcomes are. What do you think is gonna happen? Most companies and individuals don't take the time to do this…
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